ETH has been in a range-bound state since the pullback on the 8th, with a Long-Short Ratio of 2:1 in the dense area. The overall funding in the market is smaller compared to BTC, which increases the probability of a downward trend. Key resistance levels to watch are 4475/4510 above, and 4400/4350 below. Notably, from the perspective of the daily chart, it is currently at the upper position of a high-level falling wedge or a bull flag pattern after the pump in July. If there is no rebound to 4350, there might be a deep pullback to 3800, which requires further attention and precaution. If it can hold above this upper position, it may challenge historical highs and break through, which also requires further monitoring.